It sounds like the OP does want NU, but has a really good offer from Loyola. If NU accepts OP, with a good FA offer, OP will go to NU. If not accepted or accepted without enough aid, OP goes to Loyola.
NU set up the conditions and timing of ED. If NU wanted first crack at all ED applicants, they could move the ED timeline up. NU could give more aid. NU is in control of this situation.